CBOE Holdings Reports February 2015 Trading Volume

- ADV of 4.7 Million Contacts Down 13% vs January

- Total Volume of 88.5 Million Contracts Traded

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Mar 02, 2015, 05:20 ET

CHICAGO, March 2, 2015 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that average daily volume (ADV) during February for options contracts on Chicago Board Options Exchange^® (CBOE^®) and C2 Options Exchange^SM (C2^SM) and futures contracts on CBOE Futures Exchange (CFE^®) was 4.7 million contracts, a decrease of 22 percent from February 2014 and a decline of 13 percent from January 2015.

Total options and futures volume at CBOE Holdings during February was 88.5 million contracts, a decrease of 22 percent from a year ago and down 17 percent from January 2015.

CBOE Holdings Consolidated Trading Volume						Year-To-Date
(Contracts in thousands)	Feb 2015	Feb 2014	% Chg	Jan 2015	% Chg	Feb 2015	Feb 2014	% Chg
Trading Days	19	19		20		39	40
Total Contracts (options & futures)	88,507.4	113,508.1	-22%	107,239.7	-17%	195,747.2	234,954.5	-17%
Total Options Contracts (CBOE & C2)	85,340.9	109,384.5	-22%	102,666.1	-17%	188,007.0	226,423.9	-17%
Total Futures Contracts (CFE)	3,166.5	4,123.5	-23%	4,573.7	-31%	7,740.2	8,530.6	-9%

Total ADV (options & futures)	4,658.3	5,974.1	-22%	5,362.0	-13%	5,019.2	5,873.9	-15%
Total Options ADV (CBOE & C2)	4,491.6	5,757.1	-22%	5,133.3	-13%	4,820.7	5,660.6	-15%
Total Futures ADV (CFE)	166.7	217.0	-23%	228.7	-27%	198.5	213.3	-7%

CBOE Trading Volume and Market Share

CBOE Volume: February

CBOE's ADV during the month was 4.2 million contracts, down 23 percent from February 2014 and a decline of 12 percent from January. Exchange-wide trading volume totaled 79.7 million contracts, down 23 percent from a year ago and off 17 percent from the previous month.
During the month, ADV in equity options decreased 16 percent, exchange-traded product (ETP) options decreased 25 percent and index options decreased 28 percent from February 2014.
Expanded volume information for CBOE index and ETP options is available at: www.cboe.com/data/monthlyvolume.aspx.

CBOE Trading Volume Current Month						Year-To-Date
(contracts in thousands)	Feb 2015	Feb 2014	% Chg	Jan 2015	% Chg	Feb 2015	Feb 2014	% Chg
Trading Days	19	19		20		39	40
Total Exchange	79,692.6	103,100.7	-23%	95,516.1	-17%	175,208.7	213,604.1	-18%
Total Exchange ADV	4,194.3	5,426.4	-23%	4,775.8	-12%	4,492.5	5,340.1	-16%
Equity Options	33,769.4	40,381.7	-16%	37,463.3	-10%	71,232.7	88,969.1	-20%
Equity Options ADV	1,777.3	2,125.4	-16%	1,873.2	-5%	1,826.5	2,224.2	-18%
Index Options	26,125.8	36,474.6	-28%	31,351.5	-17%	57,477.4	73,809.6	-22%
Index Options ADV	1,375.0	1,919.7	-28%	1,567.6	-12%	1,473.8	1,845.2	-20%
ETP Options	19,797.3	26,244.4	-25%	26,701.2	-26%	46,498.6	50,825.4	-9%
ETP Options ADV	1,042.0	1,381.3	-25%	1,335.1	-22%	1,192.3	1,270.6	-6%

CBOE Market Share: February

CBOE's market share of total U.S. options industry volume was 26.3 percent in February 2015, a decrease of 3.6 percentage points from February 2014 and a decline of 0.7 percentage points from January 2015.

CBOE Market Share Current Month						Year-To-Date
	Feb 2015	Feb 2014	% Pt. Chg	Jan 2015	% Pt. Chg	Feb 2015	Feb 2014	% Pt. Chg
Total Exchange	26.3%	29.9%	-3.6%	27.0%	-0.7%	26.7%	29.1%	-2.4%
Equity Options	19.3%	21.6%	-2.3%	19.3%	---	19.3%	21.5%	-2.2%
Index Options	95.8%	96.7%	-0.9%	96.2%	-0.4%	96.1%	97.3%	-1.2%
ETP Options	19.7%	21.8%	-2.1%	21.1%	-1.4%	20.5%	20.7%	-0.2%

C2 Trading Volume and Market Share

C2 Volume: February

C2's February trading volume totaled 5.6 million contracts. ADV was 297,280 contracts, a 10-percent decrease from February 2014 and a 17-percent decrease from January 2015.

C2 Trading Volume Current Month						Year-To-Date
(contracts in thousands)	Feb 2015	Feb 2014	% Chg	Jan 2015	% Chg	Feb 2015	Feb 2014	% Chg
Trading Days	19	19		20		39	40
Total Exchange	5,648.3	6,283.8	-10%	7,150.0	-21%	12,798.3	12,819.8	0%
Total Exchange ADV	297.3	330.7	-10%	357.5	-17%	328.2	320.5	2%
Equity Options	1,823.3	643.7	183%	1,872.2	-3%	3,695.4	1,498.7	147%
Equity Options ADV	96.0	33.9	183%	93.6	3%	94.8	37.5	153%
Index Options	43.3	40.3	8%	66.9	-35%	110.2	69.5	59%
Index Options ADV	2.3	2.1	8%	3.3	-32%	2.8	1.7	63%
ETP Options	3,781.7	5,599.8	-32%	5,211.0	-27%	8,992.7	11,251.6	-20%
ETP Options ADV	199.0	294.7	-32%	260.5	-24%	230.6	281.3	-18%

C2 Market Share: February

C2 market share of total industry volume in February 2015 was 1.9 percent, up 0.1 of a percentage point from February 2014 and down 0.1 of a percentage point from January 2015.

C2 Market Share Current Month						Year-To-Date
	Feb 2015	Feb 2014	% Pt. Chg	Jan 2015	% Pt. Chg	Feb 2015	Feb 2014	% Pt. Chg
Total Exchange	1.9%	1.8%	0.1%	2.0%	-0.1%	2.0%	1.7%	0.3%
Equity Options	1.0%	0.3%	0.7%	1.0%	---	1.0%	0.4%	0.6%
Index Options	0.2%	0.1%	0.1%	0.2%	---	0.2%	0.1%	0.1%
ETP Options	3.8%	4.7%	-0.9%	4.1%	-0.3%	4.0%	4.6%	-0.6%

CBOE Futures Exchange (CFE) Trading Volume

CFE Volume: February

CFE's ADV during the month was 166,660 contracts, down 23 percent from February 2014 and down 27 percent from January 2015. Exchange-wide trading volume totaled 3.2 million contracts, a decrease of 23 percent from a year ago and a decline of 31 percent from the previous month.
ADV in futures on the CBOE Volatility Index^® (VIX^®Index) during the month was 166,547 contracts, down 23 percent from February 2014 and a decline of 27 percent from January 2015. VIX futures volume totaled 3.2 million contracts in February, a decrease of 23 percent from a year ago and a decline of 31 percent from the previous month.

CBOE Holdings Average Revenue Per Contract

The following represents average transaction fee per contract based on a three-month rolling average, reported on a one-month lag. The average transaction fee per contract represents total transaction fees for CBOE, C2, and CFE recognized for the period divided by total contracts traded during the period. Average transaction fees per contract can be affected by various factors, including exchange fee rates, volume-based discounts and transaction mix by contract type and product type.

(In Dollars)	Three-Month Period Ended
Product:	Jan-15	Dec-14	Nov-14	Oct-14
Equity Options	$0.069	$0.068	$0.074	$0.078
Index Options	$0.702	$0.696	$0.692	$0.690
ETP Options	$0.111	$0.105	$0.107	$0.112
Total Options Average Revenue Per Contract	$0.279	$0.284	$0.279	$0.288
Futures	$1.647	$1.616	$1.628	$1.598
Total Average Revenue Per Contract	$0.333	$0.340	$0.331	$0.344

About CBOE Holdings:
CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for Chicago Board Options Exchange, Incorporated (CBOE), CBOE Futures Exchange, LLC (CFE) and other subsidiaries. CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options and volatility trading through product innovation, trading technology and investor education. CBOE Holdings offers equity, index and ETP options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options and futures on the CBOE Volatility Index (the VIX Index). Other products engineered by CBOE include equity options, security index options, Weeklys options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE Holdings is home to the world-renowned Options Institute and www.cboe.com, the go-to place for options and volatility trading resources.

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CBOE^®, Chicago Board Options Exchange^®, CFE^®, Execute Success^®, FLEX^®, LEAPS^®, CBOE Volatility Index^®and VIX^® are registered trademarks, and BuyWrite^SM, BXM^SM, CBOE Futures Exchange^SM, The Options Institute^SM and Weeklys^SM are service marks of Chicago Board Options Exchange, Incorporated (CBOE). C2^SM and C2 Options Exchange^SM are service marks of C2 Options Exchange, Incorporated (C2). Russell 2000^® is a registered trademark of Frank Russell Company, used under license. Standard & Poor's^®, S&P^® and S&P 500^® are registered trademarks of Standard & Poor's Financial Services, LLC and have been licensed for use by CBOE, C2 and CFE. All other trademarks and service marks are the property of their respective owners.